Accounting Dictionary - Letter W

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Write-off
means (1) to write-off (eliminate) a customer account that has been determined to be uncollectible; (2) to write-off an asset that has been determined to be worth nothing (e.g., destructed in a catastrophe and has no insurance coverage or no salvage value). The entire asset account is transferred to an expense or loss account.
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